Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Rehabbing & House Flipping
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 11 years ago,

User Stats

316
Posts
102
Votes
Dave Savage
  • Investor
  • Rochester, NY
102
Votes |
316
Posts

Can I make this a Deal?

Dave Savage
  • Investor
  • Rochester, NY
Posted

Call came in today from a DM campaign and wondering if I can make this a deal somehow:

SFH ARV $140k

Repairs ~$12k

Seller Owes $116k (1st and HELOC)

Tenanted at $1000/month - which is negative cash flow with existing loans and taxes.

Sellers do not have money to use at closing to bring down the purchase price. Mortgage is current.


Sellers are very motivated but I to get the rehab completed with at least $10k profit(repairs include a healthy contingency %, and ARV is below comps as I know people will say this is a skinny deal) which means I need to get the property for ~$95k or below.

Any ideas on how to make this a deal? Will banks allow a HELOC to transfer onto a new property for example? Obviously I can move onto the next deal, but always looking to find ways to swing a tougher deal.

Loading replies...